Global Tertbutanol Market
Global Tert-Butanol Market was valued US$ 480 Mn. in 2019 and is estimated to grow at CAGR of 3.87 %, to reach US$ 650 Mn. during the forecast period of 2020 to 2027.
Market Definition:
Tert-Butanol (CH₃)₃COH, also known as tert-Butyl alcohol is a colorless organic compound, which melts near room temperature and widely used as the solvent, paint remover ingredient, ethanol denaturant, gasoline octane booster and perfume. Industrially, t-butanol can be yield by the catalytic hydration of isobutylene.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and the same is reflected in our analysis.
Market Dynamics:
The report covers worldwide Tert-Butanol Market size in value and volume with market dynamics by region. All the segments and their detailed analysis of the trends, opportunities, challenges and factors affecting the market analyzed in the report.
Tert-butanol is gradually penetrating the biomedical industry as the freezing agent and is witnessing a noticeable growth owing to the technological advancement, surging research activities and the increasing number of applications in the pharmaceutical industry to purified proteins, blood samples, conserve vaccines, and many other biological materials all over the world. The excellent properties such as optimal freezing agent, low toxicity, high vapour pressure and the low melting solvent are attracting large investment by in the market.
Global Tert-Butanol Market: Market Segmentation
The report covers competitive analysis of the Tert-Butanol Market in each of the geographical segments thereby providing insight into a market share of the countries.
Based on End User, paints & coating is estimated dominant market and expected to grow in term of revenue at a CAGR of XX% during the forecast period from 2019 to 2027. Tert-Butanol is ideal for industrial employment and is widely used as a solvent in paints & coating applicants on food containers, metal, and industrial cleaning compounds. Tert-butanol is a versatile solvent and reduces the viscosity of resin paints, thereby improving brushing ability and enhancing the flow of paint.
Growth in the construction sector due to the escalating infrastructure development in India, ASEAN and China with growing demand in the automotive industry, is projected to drive the tert-butanol market during the forecast period
Based on product Type, Pharmaceutical Grade is projected to grow at a CAGR of XX% and was valued US$ XX Mn in 2019 forecasted to reach US$ XX % during the forecast period 2019-2027. The leading factor driving the growth is widespread utilization of Tert-Butanol in manufacturing pharmaceutical compounds as a freeze-drying agent. It is drastically used to preserve vaccines, purified proteins, blood samples, and biological materials. Rising demand in the biomedical and biotechnology industries is estimated to provide lucrative opportunities for the manufacturing of tert-butanol.
Global Tert-Butanol Market1
Global Tert-Butanol Market: Geographical Analysis
Regionally, Asia Pacific is estimated to dominate the Tert-Butanol Market with a market share of XX% in 2019 and is forecasted to grow at CAGR of XX % in the upcoming future. The growth is mainly due to rising demand for paint & coatings industry in construction and automobile sector and widespread application in processed food industry, especially in India, Japan, China and Taiwan in the region. China has been marked as the leading producer and exporter of Tert-Butanol globally. In 2019, china accounted the market size was of expected to reach US$ X.XX Mn by 2027. Also, the preliminary impact of COVID-19 has undesirably affected the market growth in this region and will take time to recover from such an economic loss, in this region for an extended period.
Europe is the second most prominent region for tert-butanol consumption due to Increase in consumer preference and burgeoning demand in automotive, construction paint & coating industries for architectural coatings & automotive refinish performance coatings.
The objective of the report is to present a comprehensive analysis of the Global Tert-Butanol Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
Key Development, Trends & Acquisitions
• A prominent chemical, plastics, and refining company LyondellBasell Industries N.V funded US$ 2.4 Bn to establish a new plant in Texas, Channelview, which is estimated to be operational by 2021.
• In 2018, Air Liquide S.A. enlarged its utility supply by acquisition with LyondellBasell for its tertiary butyl alcohol (TBA) project and new propylene oxide (PO) in Texas, Houston U.S., In April 2018, Air Liquide signed an agreement to provide oxygen to the plant.
The report also helps in understanding Global Tert-Butanol Market dynamics, structure by analyzing the market segments and projects the Global Tert-Butanol Market size. Clear representation of competitive analysis of key players By Pathogen Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Tert-Butanol Market make the report investor’s guide.
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Scope of the Global Tert-Butanol Market
Global Tert-Butanol Market, By Product Type
• Pharmaceutical Grade
• Chemical Grade
Global Tert-Butanol Market, By End-User
• Paints & Coatings
• Flavors & Fragrance
• Pharmaceuticals
• Others
Global Tert-Butanol Market, By Application
- • Solvents & Intermediates
• Ethanol Denaturants
• MTBEs & ETBEs
• Methylmethacrylates [MMAs]
• Others
Global Tert-Butanol Market, By Region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
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